LVLT results looked okay to me (quickie look...not in depth)...will be watching for a possible reversal...
Level 3 beats by $0.07, reaffirming Y07 and Y08 guidance (LVLT) 6.18 : Reports Q1 (Mar) loss of $0.15 per share, excluding non-recurring items, $0.07 better than the Reuters Estimates consensus of ($0.22); revenues rose 24.8% year/year to $1.06 bln vs the $1.04 bln consensus. Co says, "We expect continued strong Core Communications Services revenue growth in the second quarter. As such, we are projecting Total Communications Revenue of $1,000-$1,045 million in the second quarter. As we begin to see additional benefits of merger-related synergies, we are projecting Consolidated Adjusted EBITDA to increase to $180-$200 million in the quarter. Additionally, we are reaffirming our previously disclosed full-year guidance for 2007 and 2008."
